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Erste Group has to find a new boss

Erste Group has to find a new boss

Erste Group Bank headquarters in Vienna

Supervisory Board Chairman Friedrich Ruedler praised Spalt for handling “several crises”.

(Photo: Reuters)

Munich Austrian bank Erste Group Bank will lose its CEO Bernd Spalt, who has only been in his post since the start of 2020, within a year at the latest. Vienna’s main bank announced on Friday that it had informed the Supervisory Board that it did not want to extend its contract, which runs until June 30, 2023. “Its decision is the result of different opinions about the long-term future general direction of the group,” the former explained.

The Nominations Committee of the Oversight Board will begin the search for a successor after the annual general meeting on May 22. “Until further notice, Bernd Spalt will take over the management of the business The first group Away.”

The banker, who comes from Vorarlberg, has been working in the Savings Bank Group for more than 30 years first bank. In January 2020, he succeeded Andreas Tretchel as CEO; Before that he was his official deputy for six months.

Supervisory Board Chairman Friedrich Ruedler particularly praised Spalt’s handling of the “many crises” that have occurred in the Bank’s history. “Bernd has made a significant contribution to Erste’s success in various jobs over the past 32 years – even during difficult times.”

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